In today’s video, we’ll lay out a road map and analyze what could occur in the week ahead. Last week the Federal Reserve event caused a decent selloff and began this drop in the S&P 500 (ES). Regardless of the news, we want to lay out inflection points to guide us on which direction we should be focusing on.
Our biggest focus this week is on the daily Ichimoku Cloud. It’s printing a Cloud top near the $4,600 range for the next two weeks. If the ES continues to trade near these ranges, we could see it rally back up, similar to the last time the ES bounced off the daily Ichimoku Cloud.
There are two catalysts that could impact the overall market this week – Federal Reserve Chairman Jerome Powell will be speaking Tuesday morning and the Core CPI numbers will be released Wednesday morning.
In today’s video, we’ll dive into our major focal points for the overall market that will help gauge the market’s next moves.
Stay Focused!